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Gold/Mining/Energy : Alta Gold

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To: Dwight Taylor who wrote (394)1/22/1998 7:44:00 PM
From: Francois H. Gaston  Read Replies (2) of 749
 
Ben:
FSAGX is one of the Fidelity Sector Fund I use for my retirement money. FSAGX stands for Fidelity Select American Gold fund. FDPMX is Fidelity Precious Metal Funds where large goldmines positions are in South African goldmines.
Here is a link for FSAGX, showing a possible double bottom.

quote.yahoo.com

Regarding ALTA, the drop at the end of the day was due to the drop in the price of the gold ounce. From TA point of view: good volume and no real retraction. We therefore cannot diagnose here a trend reversal for ALTA. The XAU is undecided (many prudent investors!).
I hope you got your 1 3/8 today, Barbara... but I would have played a BUY at the opening this morning, in view of the nice TA and news for ALTA... then the price of the ounce dropped and ALTA retracted. It shows that limit orders are always best.
While the DOW, ASIA and EUROPE (and Clinton) are under the weather, goldstocks might wobble a bit here. We will see. I expect the DOW to finish down Friday. May be seriously down (> 100 points)... then again: what do I know!.
Good luck all.
Gaston
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